All Articles

BoE decision eyed as Fed cools reversal speculation

We're seeing a little more positivity in the markets after another lively week and there's still plenty to come as we get closer to the weekend. Fed officials have been out in force again; this time with a focus on market expectations of a swift reversal from rate hikes to cuts early next year. Both Mary Daly and Neel Kashkari were very clear that it's unreasonable to expect such a policy u-turn given the inflation environment, with Kashkari even saying he's not sure what markets are looking at

04-08-2022 05:39 GMT by Craig Erlam

Oil dips on inventories, gold edges upwards

Can oil break USD 90? Oil prices are a little lower again today after tumbling a day earlier on the back of a surprise surge in inventories. The 4.5 million barrel increase in stocks caught the market off guard, with forecasts pointing to a small decline.

04-08-2022 05:35 GMT by Craig Erlam

All eyes on Bank of England

The British pound has posted slight gains ahead of today's key Bank of England meeting. In the European session, GBP/USD is trading at 1.2167, up 0.17% on the day. BoE expected to deliver 50bp salvo The BoE will be in the spotlight, with the markets pricing a supersize 50bp rate hike at 90%.

04-08-2022 05:12 GMT by Kenneth Fisher

Market Insights Podcast (Episode 360)

Jonny Hart discusses what is driving markets today with OANDA Senior Market Analyst Ed Moya in New York. This week they talk about the impact of House Speaker Pelosi's trip to Taiwan, Fed speak, the OPEC+ meeting and EIA crude oil inventory report, and MicroStrategy. They also discuss what to expect from the BOE rate decision and nonfarm payroll report.

03-08-2022 20:15 GMT by Edward Moya

Oil lower post OPEC+ and EIA report, gold rally stalls

Oil slides after OPEC+ meeting Crude prices tumbled after energy traders saw both the smallest increase in OPEC+ history and as gasoline demand plunged in the US. It looks like OPEC+ is resisting calls to boost output because the crude demand outlook continues to get slashed. The world is battling the ongoing global energy crisis and it won’t be getting any help from OPEC+. The weekly EIA crude oil inventory was very bearish. A headline build of 4.46 million bpd and plunging gasoline dem

03-08-2022 14:09 GMT by Edward Moya

Stocks bolstered by earnings and data, ISM impresses, Meme stock mania on steroids, Bitcoin nears top of range

US stocks rallied after a steady dose of impressive earnings and economic data. The economy doesn't look bad at all after strong earnings from Moderna, Gilead Science, CVS, Electronic Arts, Starbucks, and SoFi. The economic data broadly came in higher than expected as the service part of the economy seems to be stabilizing and price pressures are improving.

03-08-2022 14:02 GMT by Edward Moya

Euro shrugs after soft data

The euro has edged lower and is trading at 1.0138 in the North American session, down 0.27% on the day. Eurozone retail sales, Services PMI fall Today's Eurozone data de-accelerated, which is bound to raise concerns about the health of the eurozone economy. Eurozone Services PMI dropped to 51.2 in July, down from 53.0 in June (50.6 est.).

03-08-2022 10:36 GMT by Kenneth Fisher

Oil around USD 100, gold edges upwards

Oil hovers around USD 100 after OPEC+ decision Oil prices are a little higher after OPEC+ reportedly agreed to increase output targets by 100,000 barrels per day in September. The move fell in line with speculation of a small increase leading into the meeting.

03-08-2022 09:48 GMT by Craig Erlam

Bouncing back despite Fed warnings

Stock markets are a little higher after turning lower on Tuesday amid nerves over Nancy Pelosi's Taiwan visit. This week was already shaping up to be another rollercoaster ride and Pelosi's trip just added another layer of event risk for the markets. There will be hope following the initial response from Beijing that any escalation won't be too severe, although relations between the world's largest economies are clearly hugely strained and deteriorating. Compounding the moves in the markets yest

03-08-2022 09:44 GMT by Craig Erlam

Pound edges higher, markets eye BoE

The British pound is in positive territory today and briefly climbed above the 1.22 line. In the European session, GBP/USD is trading at 1.2185, up 0.18% on the day. Will BoE tighten by 50bp? The Bank of England meets on Thursday, and a 50bp hike looks likely, especially after hints from Governor Bailey to that effect.

03-08-2022 07:30 GMT by Kenneth Fisher

New Zealand dollar stems bleeding

The New Zealand dollar has edged higher today. In the European session, NZD/USD is trading at 0.6261, up 0.11% on the day. NZD/USD took a tumble on Tuesday, as nervous investors waited to see if Nancy Pelosi would indeed visit Taiwan, despite furious threats from China.

03-08-2022 05:30 GMT by Kenneth Fisher

US Close - Rollercoaster stock market after Pelosi arrives in Taiwan, Fed nowhere near done hiking, JOLTS miss, Oil rises, Gold lower on strong dollar, Bitcoin steadies

US stocks went on a rollercoaster ride as traders grew nervous over China’s retaliation over House Speaker Pelosi’s trip to Taiwan, a reminder from Fed’s Daly that their interest rate hiking cycle is nowhere near done, and further signs the labor market is cooling but still remains tight enough for the Fed to deliver a couple more rate hikes. China’s response to Pelosi’s trip to Taiwan could have an impact on supply chains and demand, which could keep the inflationary pressures going strong.

02-08-2022 17:14 GMT by Edward Moya

Euro eyes Services PMIs

The euro is in negative territory today. EUR/USD is trading at 1.0207, down 0.51% on the day. Will weak German data weigh on euro? Germany, the largest economy in the eurozone, is showing signs of weakness, which bodes badly for the rest of the eurozone as well as the euro.

02-08-2022 08:48 GMT by Kenneth Fisher

NZD slides, employment report next

The New Zealand dollar has reversed directions today and recorded sharp losses. NZD/USD is trading at 0.6285, down 0.75% on the day.

02-08-2022 06:08 GMT by Kenneth Fisher

Oil dips ahead of OPEC+, gold flat

How influential is Biden in OPEC+? Oil prices are slipping again on Tuesday as traders take a more cautious stance ahead of the OPEC+ meeting. There's a lot more uncertainty this time around as they're no longer on a pre-set path that people were hoping would change but never really did.

02-08-2022 05:09 GMT by Craig Erlam

Nerves amid China warnings

We're seeing more risk aversion on Tuesday as Nancy Pelosi's trip to Taiwan generates numerous unsettling headlines at a time of strained ties between the US and China. US House Speaker Pelosi's proposed visit has been met with numerous threats from Beijing including an unspecified military response. They have continued this morning, hours ahead of the apparent arrival which is clearly making investors very nervous. Stock markets throughout most of Asia are in the red, with those in China, Hong

02-08-2022 04:50 GMT by Craig Erlam

Australian dollar sinks after RBA hike

The Australian dollar has declined sharply and is back below the symbolic 0.7000 level. AUD/USD is trading at 0.6931, down 1.35% on the day. RBA raises rates by 50bp The Reserve Bank of Australia raised interest rates by 50bp today.

02-08-2022 03:47 GMT by Kenneth Fisher

Stocks dip on economic slowdown fears, Asia/Europe PMIs contract while ISM softens, Oil tumbles on demand outlook, Gold rally intact, Polkadot tumbles

US stocks are off to a lackluster as the start of a new month was filled with a bunch of reminders of how quickly the global economy is slowing down and as the risks to the outlook continue to grow. The shock contraction in China was immediately followed up with a wrath of EU manufacturing data that fell into contraction territory for the first time in almost two years. US factories are growing at the slowest pace in a couple of years, but the slower expansion was better than what most economis

01-08-2022 16:21 GMT by Edward Moya

Swiss franc rebound continues

USD/CHF dips below 0.9500 The Swiss franc is showing little movement today, but USD/CHF has fallen below the 0.9500 line for the first time since May. The US dollar pushed the Swiss franc above the parity line in June, but since then the Swiss franc has steadily strengthened.

01-08-2022 11:22 GMT by Kenneth Fisher

Aussie higher ahead of RBA decision

The Australian dollar has posted strong gains today. In the North American session, AUD/USD is trading at 0.7036, up 0.67% on the day. RBA expected to hike by 50 bp The Reserve Bank of Australia meets on Tuesday and is expected to deliver a third straight hike of 0.50%.

01-08-2022 09:37 GMT by Kenneth Fisher

All news & analysis